Latest News
See the latest news and get GPT analysis of articles
More than 3 million pass through US airport security in a day for the first time None - Agents for the U.S. Transportation Security Administration on Sunday screened 3 million airline passengers in a single day for the first time ever More than 3 million pass through US airport security in a day for the first time More than 3 million people passed through U.S. airport security on Sunday, the first time that number of passengers have been screened in a single day as travel surges, according to the U.S. Transportation Security Administration. The record, which was widely predicted to happen at some point over the July Four holiday weekend, topped the June 23 mark of more than 2.99 million screened passengers. Eight of the 10 busiest days in TSA’s history have come this year as the number of travelers tops pre-pandemic levels. TSA was created after the terror attacks on Sept. 11, 2001, and replaced a collection of private security companies that were hired by airlines. The agency operates under the Department of Homeland Security, which said that agents on Sunday checked 35 passengers every second. While Americans continue to grapple with inflation, travel costs including airline tickets and hotel prices have eased significantly from a year ago. Hotel rooms were 1.2% cheaper in May compared with a year ago, according to recent government inflation data. Those costs have been trending lower since the beginning of the year. While most U.S. airlines lost money in the first quarter — traditionally the weakest time of year for travel — they were all expecting a summer of full planes. This spring, American and Southwest said they expected solid second quarter profits. They joined Delta Air Lines and United Airlines in giving an upbeat outlook for the April-through-June period, which includes the start of peak season for carriers. Delta reports its second-quarter earnings on Thursday, with analysts predicting sales of $15.5 billion, nearly $1 billion more than the same period a year ago. Next week, United and American issue their quarterly results, with Wall Street forecasting higher revenue from a year ago for both carriers. Increasingly full planes since the pandemic shut travel down four years ago has brought some downside for airlines: complaints. The Transportation Department said last week that it received nearly 97,000 complaints in 2023, up from about 86,000 the year before. The department said there were so many complaints that it took until July to sort through the filings and compile the figures. That’s the highest number of complaints about airlines since 2020, when airlines were slow to give customers refunds after the coronavirus pandemic shut down air travel. The Transportation Department said the increase in complaints was partly the result of more travelers knowing about their rights and the ability to file a complaint. Airlines receive many more complaints from travelers who don’t know how or don’t bother to complain to the government, but the carriers don’t release those numbers. —— Associated Press Airlines Writer David Koenig contributed to this story.
Hong Kong's government seeks to regulate online car-hailing platforms, a move likely to affect Uber None - The Hong Kong government is seeking to regulate online car-hailing platforms through licensing and impose tougher penalties on illegal ride services HONG KONG -- The Hong Kong government is seeking to regulate online car-hailing platforms through licensing and impose tougher penalties on illegal ride services, a move likely to have a significant impact on tech companies such as Uber. Transport officials sent a document Monday to the legislature, asking lawmakers to further study the proposal. The officials also said they would further assess and iron out details, such as requirements for obtaining licenses and the number of vehicles that can be run through online platforms. Authorities plan to complete the legislative proposals sometime in 2025. Hong Kong’s taxi industry has long resisted online platforms like Uber, seeing them as a threat to its business. In Hong Kong, it is illegal for drivers of private vehicles to provide paid services to customers without a permit. Police have in the past arrested some Uber drivers suspected of driving without a permit and in 2018, the city's court system fined more than two dozen drivers. Uber, which started operating in Hong Kong in 2014, remains a popular choice in a city where many residents are frustrated with poor taxi services. The San Francisco-based company has faced many challenges in its overseas expansion meeting multiple legal and regulatory challenges. In the document, the government said it hopes for a “win-win” situation for the transport industry and passengers through licensing and an improvement in the quality of taxi services. To further curb illegal ride-hailing services, the city's transport authorities also proposed that when a car is found to be providing paid services to customers without a permit, judges could have the vehicle impounded and its license suspended — even if charges cannot be brought against the driver. Uber welcomed the Hong Kong authorities' move to regulate ride-hailing platforms but also cautioned in a statement that it was "critical for the government to accompany this step with a workable licensing regime." The statement also said that capping the number of “ride-sharing licenses” could be a blow to many drivers who rely on the platform for flexible earnings opportunities. Lawmakers are expected to discuss the government proposals on Friday.
Ukraine's Zelenskyy discusses further NATO support with Polish Prime Minister Donald Tusk None - Ukrainian President Volodymyr Zelenskyy says he expects the upcoming NATO summit to provide specific steps to strengthen his country’s air defenses against Russia WARSAW, Poland -- Ukrainian President Volodymyr Zelenskyy said Monday that he expects the upcoming NATO summit to provide specific steps to strengthen his country's air defenses against Russia, hours after a Russian missile attack killed at least 31 people and wounded 154 others in various locations, including a children's hospital in Kyiv. Zelenskyy met with Polish Prime Minister Donald Tusk in Warsaw to discuss further support for Ukraine from NATO, as well as signing a bilateral cooperation and defense document. “We would like to see greater resolve in our partners and hear resolute responses to these attacks," Zelenskyy told a joint news conference, stressing that Ukraine will take its own retaliatory steps. “I can see a possibility for our partners to use their air defense systems in a way to hit .. the missiles that are carrying out attacks on our country," Zelenskyy said. Zelenskyy stopped in Warsaw en route to a NATO summit, which begins Tuesday in Washington, marking the Western defense alliance’s 75th anniversary. Leaders are expected to discuss ways of providing reliable long-term security aid and military training for Ukraine more than two years after Russia's full-scale invasion. At the start of the news conference with Tusk, Zelenskyy asked those gathered to observe a moment of silence for the victims of Monday's airstrikes. Tusk offered every available form of help for the children evacuated from the bombed hospital. The two leaders signed a cooperation and defense agreement that spells out Poland's continued support for Ukraine in defense, especially air defense, energy security for Ukraine, and Poland's participation in reconstruction. A legion of Ukrainian volunteers currently abroad will be trained in Poland with the aim of joining the defense effort on Ukraine's soil, Zelenskyy said. Poland will be represented at the NATO summit by President Andrzej Duda, who was scheduled to meet with Zelenskyy later Monday. Poland is among the staunchest supporters of Ukraine and has offered around $4 billion in military equipment, training and other items for defense. It is also offering humanitarian, political and economic support. An initiative likely to be endorsed at the three-day summit is NATO taking more responsibility for coordinating training, and military and financial assistance for Ukraine’s forces, instead of the U.S. Europeans also are talking about giving Ukrainians a greater presence within NATO bodies, though there’s no consensus yet on Ukraine joining the alliance. Tusk said that Poland will “continue to advocate among our allies that this path for Ukraine to reach the EU and NATO membership should be as fast as possible.”
Nicolle Wallace: ‘The Supreme Court greenlit Project 2025’ None - John Heilelman, MSNBC National Affairs Analyst and Harry Litman, former U.S. Attorney joins Nicolle Wallace on Deadline White House to discuss the threat of Project 2025 and how the agenda of a second Trump term has been emboldened by the Supreme Court’s decision on the issue of Presidential Immunity. July 9, 2024
‘He will have unlimited power’: Michael Cohen on the threat of a Trump second term and Project 2025 None - Michael Cohen, former “fixer” and attorney for ex-President Donald Trump joins Nicolle Wallace on Deadline White House to discuss the threat of Project 2025 and how his experience with the Justice Department during Trump’s first term is a preview of what could be in store for other Trump enemies in a second Trump presidency. July 9, 2024
Nikki Haley releases delegates to Trump None - Nikki Haley has released the 97 GOP delegates she earned in the primary, but will not be attending the Republican National Convention in Milwaukee.July 9, 2024
Biden delivers remarks at NATO summit on alliance's 75th anniversary None - IE 11 is not supported. For an optimal experience visit our site on another browser.
Papua New Guinea minister facing domestic assault charge steps down. Opposition demands resignation None - Papua New Guinea’s opposition leader has urged the country’s premier Tuesday to fire the petroleum minister who is stepping down from office as he faces alleged domestic assault charges in Australia instead WELLINGTON, New Zealand -- WELLINGTON, New Zealand (AP) — Papua New Guinea’s opposition leader urged the country’s premier Tuesday to fire the petroleum minister who is stepping down from office as he faces alleged domestic assault charges in Australia. Police in the Australian state of New South Wales said in a statement Saturday that a 58-year-old man was arrested and charged after a domestic dispute in Sydney after a 31-year-old woman known to him had injuries to her face following an altercation, the statement said. Australian authorities did not name Petroleum Minister Jimmy Maladina as the accused, but his identity was widely reported by news outlets in Papua New Guinea and Australia. Meanwhile, Papua New Guinea Prime Minister James Marape said in a written statement Sunday that Maladina “offered to step aside” while he attended to a complaint "as it is heard in court in Australia,” without elaborating further on the incident. The premier added he would appoint an acting minister to fill in for the petroleum minister. Still, opposition leader Douglas Tomuriesa urged Marape to sack Maladina or request his outright resignation rather than allow him to step aside temporarily. “While Maladina won’t be performing his ministerial duties, he will still be getting paid as so,” Tomuriesa said in a written statement. Maladina is due to appear in court Thursday on a charge of assault resulting in bodily harm. He is currently on bail, police said. He has not responded to requests for comment by The Associated Press. In remarks attributed to him by news outlets in Papua New Guinea, Maladina said he was aware of the reports of his arrest and was “fully cooperating with the authorities.” He did not say whether he would defend the charge. It was unclear whether Maladina’s visit to Australia was on government business. If so, it might grant him immunity from criminal prosecution under a legal equivalent of diplomatic immunity, said Don Rothwell, an international law expert at Australian National University. Maladina is not a diplomat, but visiting foreign heads of state and, under some circumstances, visiting foreign government ministers may receive protections under Australia’s Foreign States Immunities Act, Rothwell said, which effectively confers the same immunities. “One of the critical questions is did he come to Australia on a private visit? If he came to Australia on a private visit, then it’s very clear he doesn’t enjoy any privileges or immunities,” said Rothwell. There was no immediate reply from the Papua New Guinea High Commission in Canberra Tuesday when the AP asked whether Maladina’s Australian visit was on official business. Maladina, a former lawyer and member of Marape’s Pangu Party, became a lawmaker in 2022 and was appointed as a minister in January. The prime minister directed him to boost the developing country's efforts to profit from its natural gas resources. He has been a key ally to Marape, who faced political tumult in May when 18 members of his party defected to the parliamentary opposition in a bid to oust the premier in a no-confidence vote before Parliament broke for the summer. The Parliament is set to reconvene in September. — Associated Press reporter Rod McGuirk contributed from Melbourne, Australia.
Cannabis advocates in Thailand protest a proposal to ban again its general use None - Two years after marijuana was decriminalized in Thailand, nearly a hundred of its advocates marched to the prime minister’s office to protest a possible ban on general use BANGKOK -- Two years after marijuana was decriminalized in Thailand, nearly a hundred of its advocates marched to the prime minister’s office Monday to protest a possible ban on general use. A health ministry drug control committee approved Friday a proposal to relist cannabis as a narcotic to be only allowed for medical and research purposes. The proposition is set to be submitted to the Office of the Narcotics Control Board this week, and if agreed on, will take effect Jan.1. Cannabis activists and entrepreneurs, some carrying potted marijuana plants, gathered at the United Nations headquarters in central Bangkok Monday as they prepared to head to the Government House, nearly 1 kilometer (0.62 miles) away. Prasitchai Nunuan, a representative of a pro-cannabis network of individuals, addressed the protesters, saying that marijuana should be separately regulated by the health ministry instead of criminalizing the plant yet again. He accused the government of outlawing the drug to allow only a few interest groups to benefit from its medical uses. “This fight for cannabis is not only for medical security or people's rights but also for destroying the monopoly of politicians taking (its) benefits away from the people,” he said. Chokwan “Kitty” Chopaka, a cannabis shop owner in Bangkok and activist, also accused the current Thai Cabinet of allowing politics to manipulate such a decision and called on officials to come up with a policy that benefits the majority of people. "Who are you to judge what they use it for and how they use it?” she added. Police barricaded the road leading to the Government House, effectively stopping the protesters from marching ahead. who then set up a camp in the area and announced they would remain in place until the government responded to their demands. An official later received the group’s written petition. In May, Prime Minister Srettha Thavisin said he wanted to outlaw cannabis again, sparking several protests from advocates who claimed the decision would be damaging to the economy. Legal cannabis has fueled Thailand’s tourism and farming sectors and spawned thousands of cannabis retails ranging from shops, trucks to market stalls all over the country. Pock Pechthong, a cannabis grower who joined Monday’s march, said while more regulations are needed, a radical rollback will hurt a lot of people who have invested in the business. “Everybody’s spent a lot of money already. I’m a grower, so our main concern is not being able to grow or use it,” he said. After cannabis was decriminalized in 2022, it was initially said that it would be allowed only for medicinal use, but in practice, the market remained virtually unregulated, prompting public backlash and concerns over misuse and crime, which the government has cited as reasons for the proposal. Last month, Health Minister Somsak Thepsuthin said the ministry conducted an online survey and that no less than 80% of the 111,201 participants approved the ban. However, the results were not publicly shared. Bhumjaithai Party, headed by Anutin Charnvirakul, spearheaded decriminalizing marijuana in the country and promised at the time farmers in its stronghold in the impoverished northeast that it would be a new cash crop. Anutin, who headed the health ministry in 2022, pushed for an amendment to the Narcotics Law, dropping cannabis from the list of controlled substances. Currently the interior minister, the party head has publically opposed the proposed ban, saying while Bhumjaithai does not support recreational uses of cannabis, the rollback will impact the cannabis industry. ___ Associated Press writers Jintamas Saksornchai contributed to this report.
Rail cars carrying hazardous material derail and catch fire in North Dakota None - Rail cars carrying hazardous material have derailed and burst into flames in a remote area of North Dakota Rail cars carrying hazardous material that derailed early Friday were still burning more than 12 hours later in a remote area of North Dakota, but officials said no one was hurt and the threat to those living nearby appeared to be minimal. Twenty-nine cars of a CPKC train derailed around 3:45 a.m. in a marshy area surrounded by farmland that's about 140 miles (225 kilometers) northwest of Fargo, said Andrew Kirking, emergency management director for Foster County. By late afternoon Friday, responders were able to “go on the offensive” in fighting the flames and have had “some success knocking the fire down,” Kirking said. With water on both sides of the tracks, officials were still working to get equipment close enough. The cars were carrying anhydrous ammonia, sulfur and methanol, said Bill Suess, spill investigation program manager for the North Dakota Department of Environmental Quality. The ammonia was the biggest risk, but wind was carrying the smoke away from the nearby town of Bordulac, which has about 20 residents. “Wind has been in our favor on this,” Suess said. "That risk has greatly subsided. Still there — as long as fires are burning.” Exposure to high concentrations of ammonia in the air can cause burning of the eyes, nose, throat and respiratory tract, and can result in blindness, lung damage or death, health officials say. Exposure to lower amounts can result in coughing and irritation of the nose and throat. For now, officials do not plan to evacuate nearby residents, but that could change if the wind shifts, Suess said. Kirking said the cause of the derailment wasn't known. The engineer and conductor got away safely, he said. Kirking said it appeared that 10 to 15 of the rail cars caught fire. Video posted on the social platform X showed the blaze burning intensely. It was still burning as of midday Friday. A railroad fire crew was on the scene. CPKC said in a statement that it has “initiated its emergency response plan and launched a comprehensive, coordinated response.” The railroad was the result of a merger last year of Canadian Pacific Railway and Kansas City Southern.
Iran holds runoff presidential vote pitting hard-liner against reformist after record low turnout None - DUBAI, United Arab Emirates -- Iran held a runoff presidential election on Friday that pitted a hard-line former nuclear negotiator against a reformist lawmaker after the first round of voting saw the lowest turnout in the Islamic Republic's history. Initial results early Saturday put reformist candidate Masoud Pezeshkian ahead of hard-liner Saeed Jalili, though it wasn't clear how many people voted in the contest. Government officials up to Supreme Leader Ayatollah Ali Khamenei predicted a higher participation rate as voting got underway, with state television airing images of modest lines at some polling centers across the country. However, online videos purported to show some polls empty while a survey of several dozen sites in the capital, Tehran, saw light traffic amid a heavy security presence on the streets. Polls closed after midnight, after voting was repeatedly extended by authorities as is tradition in Iran. Mohsen Eslami, an election spokesman, said Pezeshkian had 8.6 million votes, leading Jalili's 7.5 million. He gave no total turnout figure as counting continued through the night. Khamenei has insisted the low turnout from the first round on June 28 did not represent a referendum on Iran's Shiite theocracy. However, many remain disillusioned as Iran has been beset by years under crushing economic sanctions, bloody security force crackdowns on mass protests and tensions with the West over Tehran's advancing nuclear program enriching uranium closer than ever to weapons-grade levels. “I want to save the country from isolation we are stuck in, and from lies and the violence against women because Iranian women don’t deserve to be beaten up and insulted on the street by extremists who want to destroy the country by cutting ties with big countries," voter Ghazaal Bakhtiari said. "We should have ties with America and powerful nations.” Jalili has a recalcitrant reputation among Western diplomats during negotiations over Iran’s nuclear program, something that is paired with concern at home over his hard-line views on Iran's mandatory headscarf, or hijab. Pezeshkian, a heart surgeon, has campaigned on relaxing hijab enforcement and reaching out to the West, though he too for decades has supported Khamenei and Iran's paramilitary Revolutionary Guard. Pezeshkian’s supporters have been warning Jalili will bring a “Taliban”-style government into Tehran, while Jalili has criticized Pezeshkian for running a campaign of fear-mongering. Both contenders voted Friday in southern Tehran, home to many poor neighborhoods. Though Pezeshkian came out on top in the first round of voting on June 28, Jalili has been trying to secure the votes of people who supported hard-line parliamentary speaker Mohammad Bagher Qalibaf, who came in third and later endorsed the former negotiator. Pezeshkian offered no comments after voting, walking out with former Foreign Minister Mohammad Javad Zarif, who struck Iran's 2015 nuclear deal with world powers. A rambunctious crowd surrounded the men, shouting: “The nation’s hope comes!” Both Pezeshkian and Jalili hope to replace the 63-year-old late President Ebrahim Raisi died in a May 19 helicopter crash that also killed the country’s foreign minister and several other officials. Jalili voted at another polling station, surrounded by a crowd shouting: “Raisi, your way continues!” “Today the entire world admits that it’s the people who decide who’s president for the next four years,” Jalili said afterward. "This is your right to decide which person, which path and which approach should rule the country in the next four years.” But as has been the case since the 1979 Islamic Revolution, women and those calling for radical change have been barred from the ballot while the vote itself had no oversight from internationally recognized monitors. The country's Interior Ministry, in charge of police, oversees the result. There have been calls for a boycott, including from imprisoned Nobel Peace Prize laureate Narges Mohammadi, though potential voters in Iran appear to have made the decision not to participate last week on their own as there’s no widely accepted opposition movement operating within or outside of the country. Khamenei cast one of the election’s first votes Friday from his residence, TV cameras and photographers capturing him dropping the ballot into the box. He insisted those who didn't vote last week were not boycotting the government. “I have heard that people’s enthusiasm is more than before,“ Khamenei said. “God willing, people vote and choose the best” candidate. One voter, 27-year-old Yaghoub Mohammadi, said he voted for Jalili in both rounds. “He is clean, without depending on powerful people in the establishment,” Mohammadi said. “He represents those who have no access to power.” By Friday night, both hard-line and reformist figures urged the public to vote as lines remained light in Tehran. “Until a few hours ago I was reluctant to vote,” said Ahmad Safari, a 55-year-old shopkeeper and father of three daughters who voted despite skipping the first round. “But I decided to vote for Pezeshkian because of my children. Maybe they’ll have a better future.” The vote comes as wider tensions have gripped the Middle East over the Israel-Hamas war in the Gaza Strip. In April, Iran launched its first-ever direct attack on Israel over the war in Gaza, while militia groups that Tehran arms in the region — such as the Lebanese Hezbollah and Yemen’s Houthi rebels — are engaged in the fighting and have escalated their attacks. Iran also continues to enrich uranium at near weapons-grade levels and maintains a stockpile large enough to build several nuclear weapons, should it choose to do so. And while Khamenei remains the final decision-maker on matters of state, whichever man ends up winning the presidency could bend the country's foreign policy toward either confrontation or collaboration with the West. More than 61 million Iranians over the age of 18 were eligible to vote, with about 18 million of them between 18 to 30. Voting was to end at 6 p.m. but was extended until midnight to boost participation. Raisi, who died in the May helicopter crash, was seen as a protégé of Khamenei and a potential successor as supreme leader. Still, many knew him for his involvement in the mass executions that Iran conducted in 1988, and for his role in the bloody crackdowns on dissent that followed protests over the 2022 death of Mahsa Amini, a young woman detained by police over allegedly improperly wearing the mandatory headscarf, or hijab. ___ Karimi reported from Tehran, Iran. Associated Press journalists Amir Vahdat and Mehdi Fattahi in Tehran, Iran, contributed to this report.
How major US stock indexes fared Wednesday, 7/10/2024 None - U.S. stocks rose again, continuing Wall Street’s record-setting run How major US stock indexes fared Wednesday, 7/10/2024 The Associated Press By The Associated Press U.S. stocks rose again, continuing Wall Street’s record-setting run. The S & P 500 climbed 1% Wednesday, setting an all-time high for the 37th time this year and marking its first close above 5,600 points. The Dow Jones Industrial Average gained 1.1%, and the Nasdaq composite added 1.2% to its own record. Big technology companies led the way again after a major chip supplier reported how much its revenue jumped in June. A frenzy around artificial-intelligence technology has been a major reason the U.S. stock market has climbed to records this year, as have hopes for coming cuts to interest rates. On Wednesday: The S & P 500 rose 56.93 points, or 1%, to 5,633.91. The Dow Jones Industrial Average rose 429.39 points, or 1.1%, to 39,721.36. The Nasdaq composite rose 218.16 points, or 1.2%, to 18,647.45. The Russell 2000 index of smaller companies rose 22.28 points, or 1.1%, to 2,051.75. For the week: The S & P 500 is up 66.72 points, or 1.2%. The Dow is up 345.49 points, or 0.9%. The Nasdaq is up 294.69 points, or 1.6%. The Russell 2000 is up 25.03 points, or 1.2%. For the year: The S & P 500 is up 864.08 points, or 18.1%. The Dow is up 2,031.82 points, or 5.4%. The Nasdaq is up 3,636.10 points, or 24.2%. The Russell 2000 is up 24.68 points, or 1.2%.
Media upheaval: CNN cutting about 100 jobs, and CBS News president announces resignation None - NEW YORK -- CBS News President Ingrid Ciprian-Matthews said Wednesday she's resigning after less than a year in her role, and CNN announced that it was eliminating approximately 100 jobs in continued signs of upheaval for the media business. Ciprian-Matthews will continue to work as an adviser through the presidential election before exiting CBS News. She was named CBS News president last August. Her resignation came a few days after CBS parent Paramount Global announced it was selling control of the company to the entertainment firm Skydance, which is expected to make job cuts at CBS. Ciprian-Matthews alluded to coming changes in a memo she sent to staff members. “We all know our industry and company are going through a transformation and a number of short- and long-term decisions need to be made,” she wrote. “I do not want to be disingenuous with any of you about who should drive these decisions.” Once one of the most powerful jobs in journalism, the broadcast network news president job is evolving into a secondary role under a corporate-appointed manager. In the case of CBS, Ciprian-Matthews has reported to Wendy McMahon, president and CEO of CBS News and Stations. CNN said it plans to debut its first digital subscriptions before the end of the year as the news network leans into reshaping its business. The network's plans were outlined in a memo sent to staff on Wednesday by CNN CEO Mark Thompson. Thompson said that the 100 jobs come out of a total workforce of around 3,500 people. He said that open roles were closed wherever possible in order to minimize the total layoffs. Media organizations including CNN have struggled to grow audiences and revenue, and have sought to diversify what they're offering to customers. Thompson said that CNN's digital strategy must be “ambitious enough to deliver the audiences and the revenue we need to maintain our unique journalistic firepower and succeed as a business.” The executive said CNN will create subscription-ready products that offer news, analysis and context in new formats. He emphasized that there will be an effort to keep users on CNN.com's website longer and finding ways to get them to return more. While CNN's digital products have primarily focused on text articles, Thompson said there will be a shift to more video content being provided. “In the future our digital products need to do a far better job of reflecting CNN’s massive strength in video and anchoring/reporting talent,” Thompson said. The organization is also going to develop more “news you can use” for its audience, with lifestyles and features content. Thompson said these products will provide the company with various monetization opportunities, including sponsorships, new advertising and direct-to-consumer subscription. CNN will also be pushing more into artificial intelligence, Thompson said, and will look at how it can safely use the technology to serve its audience. Thompson, a former chief executive of the BBC and The New York Times, was named as the head of CNN in August 2023 and took over the role in October. He replaced Chris Licht, who was fired in June of that year. Thompson was credited with helping the Times transition to a digital-first organization more dependent on paid subscribers than the collapsing advertising market that has doomed many newspapers. In January Thompson outlined a strategy to his staff that included a “drastic modernization” of the CNN.com website.
Video Fed Chair Powell presents semi-annual monetary policy report None - Fed Chair Powell presents semi-annual monetary policy report Fed Chair Jerome Powell outlined progress made toward the central bank's goal of reducing inflation to 2% while touting economic growth and strong employment numbers.
Tax prep company Intuit to lay off 1,800 as part of AI-focused reorganization plan None - Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce WASHINGTON -- Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce. The company behind QuickBooks and TurboTax said it was laying off 1,800 employees, but that it expects to hire at least that many in fiscal 2025 as it accelerates its focus on incorporating artificial intelligence into its products and services. In an email to employees, CEO Sasan Goodarzi said more than 1,000 of the layoffs were employees that were not meeting the company's elevated expectations. Another 300 positions are being eliminated "to streamline work and reallocate resources toward key growth areas," the email said. Mountain View, California-based Intuit will also close offices in Boise, Idaho and Edmonton in Alberta, Canada where more than 250 employees work. Some of those workers will transfer to new locations, the company said. “The era of AI is one of the most significant technology shifts of our lifetime,” Goodarzi said in the opening of his email to staff. ”Companies that aren’t prepared to take advantage of this AI revolution will fall behind and, over time, will no longer exist.” As for severance, Intuit said that all its laid off U.S. employees will get a minimum of 16 weeks of pay, plus two additional weeks for every year of service and “at least” six months of health insurance coverage. U.S. employees received 60 days notice of their termination, with a last day of Sept. 9. In a regulatory filing, Intuit estimated the reorganization plan will incur between $250 million and $260 million in charges, mostly coming in its fiscal fourth quarter ending July 31. Intuit shares fell 3.6% in morning trading to $626.29 per share.
China and Bangladesh reaffirm their ties as territorial and economic issues rise in the region None - China and Bangladesh are reaffirming their ties during a visit by Bangladesh Prime Minister Sheikh Hasina to Beijing as tensions rise in the region over territorial disputes and resources China and Bangladesh reaffirm their ties as territorial and economic issues rise in the region BEIJING -- China and Bangladesh are reaffirming their ties during a visit by Bangladesh Prime Minister Sheikh Hasina to Beijing on Wednesday as tensions rise in the region over territorial disputes and resources. China’s official Xinhua News Agency quoted Wang Huning, a member of China's Politburo Standing Committee who met with Hasina, as saying that “China and Bangladesh have respected and treated each other with equality, setting a good example of friendly coexistence and mutually beneficial cooperation between countries.” Xinhua reported Hasina later met with Chinese President Xi Jinping and “elevated their relations to a comprehensive strategic cooperative partnership." No details were given. but the designation of relations generally entails closer economic relations, largely funded by Chinese policy banks. Bangladesh occupies a strategic position between Myanmar, a longtime Chinese ally now wracked by internal conflict, and India, the rising Asian giant with which China has a longstanding border conflict. Hasina met with her Chinese counterpart, Li Qiang, on Wednesday and oversaw the signing of 28 bilateral agreements covering mostly trade and investment. While Bangladesh maintains development partnerships with the United States and India, it is also drawing closer to China, which is heavily engaged in the country’s major infrastructure projects. Hasina is eager to strengthen relations to encourage Chinese investment in her country's economy, which faces challenges over a heavy debt burden. China also provides Bangladesh with tanks, missile launchers and other weapons and is building seaports, railway tracks, power plants and bridges. The U.S. remains Bangladesh's largest source of foreign direct investment. Hasina’s visit to China is taking place a few weeks after she visited India, demonstrating her plans for a partnership with both neighbors in the face of growing interest by the U.S. in the Indo-Pacific region. While the U.S. and European countries pressured Hasina’s administration to hold free and fair elections in January, China openly sided with Hasina. China has also shown a willingness to help Bangladesh's economy as it faces dwindling foreign currency reserves. Media reports in Bangladesh say it will seek $20 billion in new loans from China during Hasina’s visit. Concerns have risen over China’s border tensions with India, the Chinese military’s expansion into the South China Sea and Indian Ocean, fighting in neighboring Myanmar and Beijing's control of water resources in the Himalayas that affects agriculture in Bangladesh and neighboring countries. ___ Associated Press writer Julhas Alam in Dhaka, Bangladesh, contributed to this report.
Japan's Nikkei 225 share index surges to another record high, approaching 42,000 None - Japan's Nikkei 225 share index has closed at another record high, gaining 0.6% to close Wednesday at 41,831,99 By The Associated Press TOKYO -- Japan’s Nikkei 225 share index closed Wednesday at another record high, gaining 0.6% to end trading at 41,831,99. That followed a record close on Tuesday, as world markets tracked gains on Wall Street. The Nikkei 225 index also hit a record intraday high on Wednesday of 41,889.16 as it bounced throughout the day, at times falling back. The benchmark has advanced nearly 30% in the past year and is up 5% in the past three months. Investors have been snapping up technology-related shares as enthusiasm builds over the potential of artificial intelligence. Export-oriented companies have also seen strong gains since their profits have soared due to the weakness of the Japanese yen.
Chinese auto exports surge, partly offsetting a sales slump at home None - China has reported its auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home BEIJING -- Chinese auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home, an industry association said Wednesday. Sales in China dropped 7.4% compared to a year earlier to 1.8 million cars, while exports rose 29% to 400,000 units, the China Association of Automobile Manufacturers said in a monthly report. In the first six months of the year, exports rose 31.5% while domestic sales edged up 1.6%. The surge in exports comes at a time of growing concern in Europe and the United States that inexpensive China-made cars could overwhelm established automakers in the West. While much of the concern has been focused on China's flashy and moderately priced electric cars, export growth has been concentrated mainly in gasoline-powered vehicles. They climbed 36% in the first half of the year and accounted for 78% of vehicle exports. Chinese EV exports were down 2.3%, while hybrids jumped 180% from a smaller base. The exports have helped make up for weaker sales of gasoline vehicles in China as the overall market has stagnated and buyers have shifted to electric vehicles and hybrids. Russia is by far the largest and a still rapidly growing export market, where Chinese makers have filled a void left by the departure of other automakers after the Russian invasion of Ukraine. Other sizeable markets include Brazil and Mexico in Latin America, the United Arab Emirates and Saudi Arabia in the Mideast and Belgium and the U.K. in Europe. The European Union imposed provisional duties on Chinese electric vehicles last week, alleging that government subsidies give automakers in China an unfair advantage. Chinese makers are moving production overseas. BYD, the country's largest EV maker, opened a plant in Thailand last week and plans to build factories in Brazil, Hungary and Turkey. The sales drop in China was the second monthly decline in a row. Separate figures tabulated by the China Passenger Car Association show three straight months of falling sales. A severe real estate slump has dampened economic growth and depressed consumer confidence.
New data from June shows inflation cooled, raising hopes for the Fed to cut its key rate None - New data from June shows inflation cooled, raising hopes for the Fed to cut its key rate A report from the Consumer Price Index showed inflation cooled last month — faster than expected. The Federal Reserve has been waiting for inflation to slow before cutting its key interest rate. CBS News business analyst Jill Schlesinger explains what to expect.
Biden campaign testing how Vice President Kamala Harris would fare head to head against Trump None - Mike Schmidt, New York Times Washington Correspondent and Mini Timmaraju, President and CEO of Reproductive Freedom for All join Nicolle Wallace on Deadline White House with new reporting about how Democrats are looking into how Kamala Harris would fare against Donald Trump should she need to step up and move to the top of the ticket. July 11, 2024